Yeah, you may actually be CPU limited. However, I wouldn't be surprised if this is more graphically demanding than oblivion, think of how many men are on the battlefield and how big the landscapes are. NV40, what kind of CPU and how much RAM you have? Also, please post some screenshots with those awesome settings you're running at!

my system specs are e6600 @2.4ghz ,2gb gskill ,8800gts. it could be cpu limited or maybe its that im using to agressive AA/resolution settings ..
the game looks awesome at 1600x1200 8xQ with TSS,4xAF ,all game settings max. i will be posting screenshots later . the game screenshots format is TGA and they take up to 3mb . Unfortunately the captured screensthots does not match the graphics in game. perhaps my aplication NEro viewer that use a crappy blur filter that smooth the jaggies but make looks a bit 'washeout' the graphics. Will try photoshop later.